Cvent to launch $375 million first-lien term loan B on Thursday

By Sara Rosenberg

New York, June 1 – Cvent Inc. is set to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch a $375 million first-lien term loan B (B), according to a market source.

Goldman Sachs & Co., Antares Capital, Jefferies Finance LLC and RBC Capital Markets LLC are the leads on the deal.

Proceeds will be used to help fund the buyout of the company by Vista Equity Partners for $36 in cash per share for a total value of about $1.65 billion.

Other funds for the transaction will come from a $225 million second-lien term loan (CCC) that was privately placed, the source said.

Closing is expected in the third quarter, subject to customary conditions, including the approval of Cvent stockholders and regulatory approvals.

Cvent is a Tysons Corner, Va., cloud-based enterprise event management company.

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